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It's super high! But ATM owners are running a business that requires a huge upfront investment so they need to recover the money from those who are using it. That sums up the reason for such high fees. Going forward, ask your cousin to buy bitcoin using an exchange like Binance and send it over to your bitcoin address directly. That will be much cheaper. But yes, she will have to do a KYC verification before she is allowed to do such transfers.
Honestly, bitcoin ATMs are not worth anything unless there is a huge emergency. For normal use, take the route of exchanges which will save both of you a huge sum of money from the fees.
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As the title implies, we all know that, almost the whole world knows about the existence of bitcoin and cryptocurrency, the problem is although more and more people are becoming aware of it, there're still barriers preventing them on using crypto. I have been into this social app called MEEFF(recommended by a friend of mine), and some of the people there dislike the idea of bitcoin and crypto. So, I was wondering why, but didn't bother to ask them since it's their own preference, and so it cross into my mind that "What does BTCitcoin needed in order to become a mainstream payment system? "
I know some of you would say improvements of Security, Scalability, and User Experience, but aside from that, What is the most needed for BTCitcoin right now?
Legal framework by the government. This is the only thing needed for bitcoin to become the mainstream payment method. Otherwise no matter whatever innovation is happening around bitcoin, it won't become a mainstream payment method, ever! People still trust the governments and their backing. So unless it is in place, nothing would happen and bitcoin will remain as a parallel economy. |
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Crypto staking gives you a fixed IRR but investing in dividend stocks give you varied returns over a period of time. I am always in favor of getting the best of both worlds. That's why my monthly investments are divided between crypto, stocks, mutual funds, Paper gold and insurance payments. So when one sector goes down, the other sectors can support my investment.
There is a trick to pick up good dividend paying stocks. From the exchange data, see the companies where they have stakes from government. Government invests in companies for dividend income. So when you will see investment from government, go ahead and buy them. Dividends will be guaranteed!
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Bitcoin project was a good initiatives and over time the project has place smiles in the faces of its communities. We believe the project is good and we fall in love with it, bitcoin became part of your career history but now this phase of the project is not pleasing to everyone weather member or not. Those who don't trust the project has withdrew from the communities but because we are families of bitcoin we still believe and trust in the project hookline and sinker.
What about you? Do you still believe the project will live better? What's your percentage trust?
Do you mean any project built around bitcoin or are you referring to bitcoin only?? Bitcoin is just 14 years old and still going through a stage where it has not yet matured. Not many legal frameworks are available around it and banking organizations are actively trying to terrorize people against it. So it's no wonder that you are seeing people falling out of the race every now and then. That's normal and shit happens with every new innovation. I trust bitcoin more than my government! I hope it gives you the answer you are looking for! |
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Let imagine you have some considerable amount invested in BTC, and suddenly an emergency came and you need to exchange your btc into fiat I want to know, what will be the process of selling, withdrawing or paying taxes etc .while exchanging in fiat. you can answer with reference to any country in which you know what is process of exchanging I am a beginner, and I am questioning this for totally knowledge purpose, I read here👇that a man invested very less amount in BTC many year ago, and today the total amount can be very large than what will be the process like KYC, Tax , Proof of buying, etc https://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-homeThere are multiple exchanges available to convert bitcoin to fiat. you can do it through p2p trade, you can send it to any exchange which supports your country and sell it to them. You can connect with any local trading group that can exchange bitcoin for you. If I speak from the perspective of my country, then the options are - Paxful (P2P) Binance (P2P) Bitbns (centralized exchange) Wazirx (centralized exchange) Coinswitch ((centralized exchange) However, I am not endorsing any of these companies. Please do your own research before using any of them. Now once you have exchanged the bitcoin to fiat, keep aside 30% of the transaction value for tax purpose. |
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A sample size of little more than 2000, doesn't really gives you a correct picture to be honest. But it is still encouraging to see that 29% are willing buy and 20% are already holding bitcoin.
It all takes to have a favorable legal framework to encourage people to get into the crypto market. As of now, US didn't say anything strongly negative about cryptocurrency. If this changes, then the ratio of willing people would change too. But overall the data is encouraging for sure!
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Regulation is usually not good, especially for cryptocurrency market. However, when it comes to stablecoin, I would support the regulation because that would essentially force the issuers to establish proof of reserve. That will help to bring back trust into the stable coin market.
Since stablecoins are not decentralised, regulations might be needed to ensure that user's get the assurance of trust!
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I really do not have a great expectations from this year's G20 meeting on crypto regulations. The Central Bank of India really negative about it and they are probably going to present the case in a negative way which in turn create negatively among the world leaders.
As long as crypto is not banned and the governments do not impose a blanket 30% tax on it, we should be ok. But not keeping any high and positive expectations.
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Bitcoin indeed has multiple benefits. But when it comes to provide banking to unbanked community, I don't think bitcoin can help in a big way. It can definitely help to some certain extent where internet is available and bitcoin related financial education is available. Which is not usually the case for unbanked community.
Also cryptocurrency is a grey area for many governments, still. Unless and until we see a legal push from the government regarding inclusion into the economy, might remain as a bottleneck.
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Absolutely yes! It is already in my retirement savings. I do have a day job and earn salary income. So whatever I earn from my signature campaign, goes straight to my savings only. And I do not usually sell off the bitcoins unless there's a huge emergency.
Bitcoin can indeed give a huge return if I can hold it for the right amount of time. But I am not sure about my government whether they are going to allow bitcoin in the country in a few years. So the entire thing is still uncertain.
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Airdrops and ICOs are dead. They do not make sense anymore! The crypto community now understands that there is no need for thousand different coins for thousand different tasks. All can be done using one cryptos only. That's why new coins are not seeing much success unless it is bringing in some drastically refreshing ideas.
So I have stopped taking part into any airdrops or bounties long back. It doesn't give any value for my time and effort.
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Organisations, medium businesses and small businesses are accepting crypto, not rapidly but it's growing naturally. Customers are asking merchants to accept crypto as payment for services they are providing.
Well, this is a really basic reason. But merchants do have other reasons as well to accept crypto payments.
What's your reason?
Customer acquisition is the only thing I can think of. Businesses will be more than happy if accepting cryptocurrency payments will help them to find new customer base. Otherwise crypto payment option is a risk to the businesses purely due to the price volatility. Last week I had to renew my hosting plan for my business. This time I have ditched my usual hosting service provider and went ahead with Hostinger because they were accepting crypto payments. So I purchased a hosting plan for 4 years. That's what I mean by customer acquisition. |
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I won't go into a debate but I want to present you all with some facts. total 22 African countries are living in poverty due to a draconian law known as - the Franc of the French Colonies in Africa! https://en.wikipedia.org/wiki/CFA_francIt's a draconian law that ensures that France remains one of the richest countries in the world. In March 2008, former French President Jacques Chirac said: “Without Africa, France will slide down into the rank of a third [world] power” reference: https://www.linkedin.com/pulse/14-african-countries-forced-france-pay-colonial-tax-benefits-arnold/So it's great for the African nations to adopt crypto at all levels of society and also they need to encourage its use to move out of the evil eyes of the French government. Only and only cryptocurrency adoption will save their fortune and keep the power themselves. |
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That's fair from the perspective of IMF. They pretty much work as a bank for the nations. They pool billions of dollars in lower interest rates and lend that money to the countries at a higher interest rate and earn spreads. That's pretty much what they do! So they are acting like any other commercial banks when it comes to crypto currency. Majority of the commercial banks have a negative view of cryptos and IMF is no exception. That's fair from their part.
Does that mean crypto industry will slow down? Oh hell no! We are far more resilient now from any such comments from any big businesses or personalities. We just don't give a shit anymore!
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100% Reserve!
Lovely! Absolutely right direction! Firstly the need of a stablecoin is not really clear when we have decentralised cryptocurrencies available in the market and the stablecoins are absolutely centralized. So when it is a centralised coin and the issuer is promising a certain value in it, it must be backed by some real world asset. So what Israel's Central Bank proposed, makes complete sense! |
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Why would I hear from a banker about cryptocurrency? It makes no sense! We all know that cryptocurrency is a direct competitor of the regulated financial corporations. The presence of cryptocurrency is actually making them nervous about the future of their business. So it's no wonder that they will try to defame their competitor when it's not coming from a centralised entity.
Just ignore and take a break!
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It's a known fact! Elon did it couple of time where the market had taken positive turn. Warren Buffet and Jemie Dimon did it as well where the market went into negative mode. So yes, big corporations and influential people have influenced the crypto market quite a few times in the past.
However, the good part is that now the market is slowly becoming immune from such negative comments made by the influencers and corporates. The market dynamics are becoming matured with time.
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How can the government make sure that something like FTX (cooperate finance enriching themselves) never happened again? Crypto is presently not regulated and I don't see how regulation will fix this issue, my concern is the CBDC, I think it will work better as the real Stable coin, unlike Luna UST that team claimed was back by dollar but was not backed by anything... Wouldn't CBDC fixed this issue of fake USD backed stable coins?
You as a crypto adopter would you like to use CBDC if the pairs are available on all crypto exchanges as a way to store yourself some digital US Dollar?
You are mixing multiple things with no co-relation. First try to understand what CBDC is and what's it's purpose. 8t has no relation with cryptos. Also it doesn't guarantee that situation like FTX will never arise again. CBDC is just a digital representation of your fiat money. So if a crypto company claims that they are backed by USD, there's no way to validate the claim just because of CBDC. Get your concept corrected first! |
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If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.
Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.
If someone is going through a financial problem with an immediate need of fund, I wouldn't gift bitcoin to him because that won't solve the urgent need. Rather I will try to gift him money which he can immediately use to support the situation. Bitcoin gifting can be done when someone has time to hold onto it and not in need of an emergency fund. This way the person can do his own research before taking a decision of either selling or holding it. |
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It is easier said than done! Green energy is highly costly to set up so it needs a substantial upfront investment. Also, it is not very cost-effective for a highly populated country like China. EU can make it happen due to the small population and higher per capita income, but for countries like China, it's a distant dream unless they figure out a way to reduce the upfront investment to generate green energy. As per some reports, US holds the highest oil reserve in the world, even bigger than Venezuela, Saudi, and Russia put together. https://www.businessinsider.com/us-has-the-worlds-largest-oil-reserves-2016-7?IR=TThese are just hidden by the US government for now. Probably a long-term gameplan to maintain world dominance. |
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